Insurance sector can play important role in country's economic progress: Information Minister

He said these things in the speech as the chief guest at an event organized on the occasion of the 42nd founding anniversary of National Life Insurance at the Officers' Club in the capital on Tuesday (July 7).

The Information Minister said that although it is an important part of the modern economy, the potential of the insurance sector in Bangladesh has not yet been fully utilized. This sector can play an important role in ensuring people's financial security as well as making the economy dynamic. He emphasized ensuring good governance, effective policies and a strong legal framework for this.

He said that the current government is working to ensure sustainable development by identifying existing problems in various sectors along with running the state and making necessary reforms. At the same time, priority has been given to developing the revenue system, preventing money laundering and reforming the financial sector to further strengthen the economy.

Zahir Uddin Swapan said that when a citizen feels secure about his future, he can participate in investment and entrepreneurial activities with more confidence. Insurance plays an important role in this regard.

He called for further strengthening the necessary laws, rules and regulatory framework to bring more people of the country under insurance coverage.

The Information Minister called upon the Bangladesh Insurance Association to identify the existing problems of the insurance sector and present clear recommendations to the Finance Minister. He also emphasized working on necessary policy and legal reforms in coordination with the government to make the insurance sector more transparent, accountable and people-friendly.

President of Bangladesh Insurance Association and Member of Parliament Saeed Ahmed spoke as a special guest at the event. Chairman of National Life Insurance Tofazzal Hossain presided over it.